$9.2B In Crypto Assets Puts BitMine At The Top Of Ethereum Treasuries

With more than 9.2 billion dollars in assets and cash, BitMine Immersion establishes itself as the new key player in crypto treasuries. Under the leadership of Tom Lee, the company listed on NYSE American accelerates its Ethereum-focused strategy, becoming the largest holder of ETH among listed companies. In a context of growing crypto balance sheets, BitMine redraws the contours of financial management by betting on Ether as a strategic reserve asset.

BitMine crosses the two million ETH milestone

BitMine Immersion now claims more than 9.2 billion dollars in cryptos and cash, including 2.069 million ETH, thus confirming its status as the world’s largest corporate Ethereum treasury.

According to the company, these assets place BitMine just behind Strategy in terms of overall crypto holdings. “We continue to believe that Ethereum is one of the biggest macroeconomic bets of the next 10 to 15 years,” said Tom Lee, company chairman, putting this intensive Ether strengthening strategy into perspective.

BitMine’s rise is based on a series of targeted operations carried out throughout August. Here are the key facts :

• BitMine now holds 2.069 million ETH, up from 1.75 million the previous week ;

• The company acquired more than 319,000 ETH in a few days, for an estimated value of 1.4 billion dollars ;

• In August, it invested 65 million dollars in buying 14,665 ETH ;

• The current value of the ETH treasury exceeds 8.9 billion dollars, according to available data ;

• The stated objective is clear : to control 5% of the total ETH supply, about 6.3 million units, as part of the plan named “alchemy of 5 %”.

This strategic positioning fits into a context of growing interest from listed companies in these assets, notably through spot ETH ETFs.

At the market level, public companies now hold 2.78 million ETH, about 2.3 % of the circulating supply, with a total valuation close to 12 billion dollars.

Diversification and regulatory challenges

Beyond its Ether-focused strategy, BitMine deploys a global investment logic, as demonstrated by its recent commitment of 20 million dollars in Eightco Holdings (OCTO).

This support is part of a PIPE (Private Investment in Public Equity) of 270 million dollars, aimed at enabling Eightco to integrate Worldcoin (WLD) as the main asset of its treasury. BitMine justifies this operation by a desire to invest in projects “relevant for the future of the Ethereum ecosystem”, referring to Worldcoin’s use of zero-knowledge proofs to validate users’ humanity, a theme considered crucial in the era of generative AI.

This equity stake launches the internal program “Moonshot”, through which the company plans to allocate about 1 % of its balance sheet to initiatives likely to create long-term value while strengthening the Ethereum ecosystem.

This expansive strategy calls regulators’ attention. Nasdaq has recently strengthened its surveillance over listed companies raising funds primarily to buy cryptos. While institutional interest in ETH treasuries intensifies, requirements for financial transparency and regulatory compliance could also tighten.

In this context, Tom Lee emphasizes Ethereum’s central role in the reshaping of finance : “Wall Street and artificial intelligence will converge on the blockchain, leading to a profound transformation of the financial system. And the essence of this transition will take place on Ethereum.”

In the short term, BitMine thus consolidates its positions as a massive ETH holder but also as a strategic investor in web3 projects related to identity, decentralization, and AI infrastructure. In the longer term, this stance could influence how listed companies perceive balance sheet management in an increasingly digitized and tokenized world.